Trustees Appointment and Reappointment in IFRSs

International Financial reporting standard IFRSs has announced their new trustee for Asia-Oceania region. This news came as a surprise as many other names were also being considered. Nonetheless, the new trustee enjoys a senior position in Japan and is being considered very prosperous in this regard.

The International Financial Reporting Standard IFRSs announced Joji Okada, Chief Financial Officer, Senior Executive Managing Officer and Representative Director of Mitsui & Company Limited as the new trustee for Asia-Oceania region. Mr. Okada has been serving the organization for many decades and up hold a valuable position in Japan. His appointment as the new trustee for Asia-Oceania region is being considered progressive for International Financial reporting standard IFRSs performance in Asia-Oceania region.

Mitsui & Company Limited have been operating in different quarters of the world for many years. The company has 150 offices and is progressing greatly. The 150 offices are located in around 67 countries of the world. Mr. Okada the Chief Financial Officer, Senior Executive Managing Officer and Representative Director of Mitsui & Company Limited is known for his valuable services and contributions into the progress of this company.

Before the appointment of Joji Okada as the new Trustee from Asia-Oceania region, Mr Noriaki Shimazaki, was the acting trustee from Asia-Oceania region. Noriaki Shimazaki took the retirement in June this year which led to the appointment of Joji Okada, Chief Financial Officer as the new Trustee of Asia-Oceania region in International Financial reporting standard IFRSs.

Mr. Okada will begin functioning and practicing his assigned post instantly. As far as his period of practice goes, his appointment will expire on 31 December 2015; this provides Mr Okada ample time to provide his best services for the progress of his region and the organization. Not only this, his contract doesn’t terminate permanently but will be renewed for the period of three more years later.

With the appointment of new trustee the news of reappointment of three more trustees also appeared which include Duck-Koo Chung (Asia-Oceania), Dick Sluimers (Europe) and Antonio Zoido (Europe) to again uphold the positions as trustees. The decision was taken by IFRS Foundation Monitoring Board.